Worth reading
73In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
-1
Percentage points (operating margin)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Partially revised (business plan revised)Net Sales0.0%
基準 50,000Target50,000million
Operating profit-18.9%
基準 2,500Target2,028million
Operating profit margin0.0pt
基準 2,028Target2,028％
Each line is the climb from the baseline the document states to the target it sets. The slope is scaled against the largest climb in this document. For metrics expressed as percentages, differences are shown in percentage points (pt).The increase shown by the dotted line is calculated from the two reported figures because the company did not provide the amount of growth.
Net income for the current fiscal year1,174 (actual for the fiscal year ending March 2026) → Not disclosed
ROIC2.9 (actual for the fiscal year ending March 2026; adjusted ROIC) → Not disclosed
Only the target level is shown because the current level for comparison was not provided.Investment amount by sectorField M&A / Amount Not disclosed, Field Capital Expenditure / Amount Not disclosed
Statements about the use of capital
Payout ratio / DOE policyThe company aims for a dividend payout ratio of at least 30% and will pay stable and consistent dividends. The applicable period is Not disclosed.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Cost of capitalWACC was 3.8% for the fiscal year ended March 2022, 3.2% for the fiscal year ended March 2023, 3.9% for the fiscal year ended March 2024, 3.1% for the fiscal year ended March 2025, and 3.5% for the fiscal year ended March 2026.The cost of capital is the minimum rate of return expected by shareholders and banks from the company.
Self-assessment of PBR and share priceThe PBR is currently approximately 0.4–0.5 times and has remained below 1 times for an extended period. The company recognizes subdued business growth and profit margins as the reasons.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Strategic rebuild (reorganization)
02Capital investment (achieving overwhelming manufacturing capacity that cannot be matched)
03M&A (an accumulation-driven growth scenario through M&A)
04Restructuring the Business Portfolio
05Financial Strategy and Capital Policy
06Shareholder Returns
07IR strategy
Plan assumptionsRising material costs resulting from the situation in the Middle East, For the fiscal year ending March 2027, full-year earnings contributions from the M&A of 丸正北海総業 are anticipated, while budgets for existing group companies will be built conservatively in light of market conditions.
Segment targetSegment Promotional Solutions business / Net Sales ¥42,000 million / Operating profit 1,610 million yen / Operating profit margin 3.8％ / Timing Fiscal year ending March 2028, Segment Content business / Net Sales ¥3,000 million / Operating profit ¥190 million / Operating profit margin 6.3％ / Timing Fiscal year ending March 2028, Segment Environmental Business / Net Sales 5,000 million yen / Operating profit ¥600 million / Operating profit margin 12.0％ / Timing Fiscal year ending March 2028, Segment Consolidated adjustments / Net Sales Not disclosed / Operating profit ▲400 million yen / Operating profit margin Not disclosed / Timing Fiscal year ending March 2028
Non-financial targetsIndicator Number of A-format web presses owned by the group / Target value To 20 units / Timing Not disclosed
Risks identified by the company
Rising material costs resulting from the situation in the Middle East
The possibility that actual business performance and other results may differ substantially due to various factors
Interest expenses trending upward
Reason for revision or withdrawal
A strategic rebuild of the segment structure to respond to changes in the economic environment and market conditions. As promotional-related companies are being made group subsidiaries through M&A, the company determined that integrating diverse promotional media is essential to building a structure suited to market needs. In addition, estimates for securing profits were reviewed in light of rising material costs resulting from the situation in the Middle East, and the target operating margin was reduced from 5% to 4%.
| Item | Details |
|---|---|
| Plan name | Business Plan |
| Plan period | Fiscal years ending March 2026 to March 2028 (numerical targets through the fiscal year ending March 2028) |
| Progress against the plan | Partially revised (business plan revised) |
| Sales Target | 50,000 (target for the fiscal year ending March 2028; pre-revision level in the materials) → 50,000 (target for the fiscal year ending March 2028)（0％） |
| Operating profit target | 2,500 (target for the fiscal year ending March 2028) → 2,000 (target for the fiscal year ending March 2028)（-20.0％） |
| Operating profit margin target | 5% (target for the fiscal year ending March 2028) → 4% (target for the fiscal year ending March 2028)（-20.0％） |
| Net income target | 1,174 (actual for the fiscal year ending March 2026) → Not disclosed |
| ROIC target | 2.9 (actual for the fiscal year ending March 2026; adjusted ROIC) → Not disclosed |
| Payout ratio / DOE policy | The company aims for a dividend payout ratio of at least 30% and will pay stable and consistent dividends. The applicable period is Not disclosed. |
| Cost of capital | WACC was 3.8% for the fiscal year ended March 2022, 3.2% for the fiscal year ended March 2023, 3.9% for the fiscal year ended March 2024, 3.1% for the fiscal year ended March 2025, and 3.5% for the fiscal year ended March 2026. |
| Self-assessment of PBR and share price | The PBR is currently approximately 0.4–0.5 times and has remained below 1 times for an extended period. The company recognizes subdued business growth and profit margins as the reasons. |
| Investment amount by sector | Field M&A / Amount Not disclosed, Field Capital Expenditure / Amount Not disclosed |
| Segment target | Segment Promotional Solutions business / Net Sales ¥42,000 million / Operating profit 1,610 million yen / Operating profit margin 3.8％ / Timing Fiscal year ending March 2028, Segment Content business / Net Sales ¥3,000 million / Operating profit ¥190 million / Operating profit margin 6.3％ / Timing Fiscal year ending March 2028, Segment Environmental Business / Net Sales 5,000 million yen / Operating profit ¥600 million / Operating profit margin 12.0％ / Timing Fiscal year ending March 2028, Segment Consolidated adjustments / Net Sales Not disclosed / Operating profit ▲400 million yen / Operating profit margin Not disclosed / Timing Fiscal year ending March 2028 |
| Non-financial targets | Indicator Number of A-format web presses owned by the group / Target value To 20 units / Timing Not disclosed |
| Plan assumptions | Rising material costs resulting from the situation in the Middle East, For the fiscal year ending March 2027, full-year earnings contributions from the M&A of 丸正北海総業 are anticipated, while budgets for existing group companies will be built conservatively in light of market conditions. |
| Key initiatives | Strategic rebuild (reorganization), Capital investment (achieving overwhelming manufacturing capacity that cannot be matched), M&A (an accumulation-driven growth scenario through M&A), Restructuring the Business Portfolio, Financial Strategy and Capital Policy, Shareholder Returns, IR strategy |
| Reason for revision or withdrawal | A strategic rebuild of the segment structure to respond to changes in the economic environment and market conditions. As promotional-related companies are being made group subsidiaries through M&A, the company determined that integrating diverse promotional media is essential to building a structure suited to market needs. In addition, estimates for securing profits were reviewed in light of rising material costs resulting from the situation in the Middle East, and the target operating margin was reduced from 5% to 4%. |
| Risks identified | Rising material costs resulting from the situation in the Middle East, The possibility that actual business performance and other results may differ substantially due to various factors, Interest expenses trending upward |
| Date of board resolution | 22 June 2026 |
| Publication date | 22 June 2026 |
Items this document does not state (5)
ROE targetTreasury share acquisition policyTotal investment planResults under the previous planSize of the Target Market
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.To respond to changes in the economic environment and market conditions, establish an organizational structure suited to market needs, make promotional-related companies group subsidiaries through M&A, and focus on the growth of the IP creation business within the Content business. In addition, estimates for securing profits were reviewed in light of rising material costs resulting from the situation in the Middle East.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.